Issue link: https://resources.envestnet.com/i/1528458
1 FOR HOME OFFICE AND ADVISOR USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC. 416% ROI: The Business Case for Data Aggregation Annual Growth 20% ROI 416% Payback <6 Months Revealing the Impact of Data Aggregation Forrester Research found that select financial service providers and wealth management firms that used aggregation services from Envestnet D&A achieved an annual growth rate of 20% per year and an ROI of 416% over three years—with their investment paid back within 6 months. The Total Economic Impact TM of Envestnet Data Aggregation Envestnet Data & Analytics (D&A) commissioned Forrester Consulting, an independent research firm, to investigate the total economic impact of Envestnet Data Aggregation, assessing the benefits, costs and risks associated with the investment. Although results will vary for different firms, Forrester's analysis made a clear case for the significant ROI potential of the Envestnet Data Aggregation solution. ROI matters, but how do you capture it? While most firms understand the value of their data, many are unclear on the quantifiable results that their data efforts are producing. Now you know… So What's the Potential Value for Your Firm? Technology investments come down to hard metrics. Forrester's study unveiled five key quantifiable benefits that were risk adjusted over three years: Improved Customer Retention. Aggregated data helps firms better predict upcoming customer needs for more accurate cross-sell. Increased Wallet Share. The ability to view held-away assets helps organizations proactively design a solution to bring those assets in-house. Increased Wealth Management Conversion. Comprehensive segmentation helps categorize customers for graduation to wealth management services and greater fee revenue. Reduced Wealth Onboarding Costs. Automated and streamlined onboarding creates efficiency and helps organizations realize a significant increase in productivity and time savings. Increased Cross-Sell and Affiliate Revenue. Greater visibility into a customer's holistic financial situation enables cross-sell of value-added services such as loans, credit cards, life insurance and annuities. Source: A Total Economic Impact™ Of Envestnet Data & Analytics Data Aggregation, a commissioned study conducted by Forrester Consulting on behalf of Envestnet, January 2023. "Envestnet Data Aggregation value proposition got us taken out as a billion-dollar acquisition and leading digital manager to scale our acquirer's 17 million retirement plan participants into wealth management customers." —CTO, digital wealth management